SBI Cashback Credit Card offers 5% cashback on online spends and 1% cashback on offline spends, excluding certain categories such as fuel, rent payments, and wallet loads, among others. Let's see in detail.
Exclusive Benefits:
- 5% Cashback on online spends.
- 1% Cashback on offline spends.
- Cashback not applicable on
- Rent Payments
- Wallet Loads
- Fuel Spends
- Merchant EMIs
- Cash Advances
- Balance Transfer
- Encash & Flexipay
- Cashback gets auto-credited to your SBI Card account. Currently the maximum cashback including offline and online is capped at ₹10000 per statement cycle.
- Reversal of Annual Fee on reaching annual spends of ₹2 Lakh in a membership year.
- Fuel Surcharge Waiver across all Petrol Pumps.
Revision of benefits on CASHBACK SBI Card:
With effect from 01 May 2023, following changes will be applicable on your CASHBACK SBI Card.
- Cashback will not be applicable on following additional categories, apart from existing exclusions:
- Jewelry, School
- Educational Services
- Utilities
- Insurance Services
- Railways
- Card
- Gift
- Novelty & Souvenir Shops
- Member Financial Institution/Quasi Cash.
- Maximum Cashback that can be earned on online & offline spends in a statement cycle will be capped at ₹5,000 instead of ₹10000. This means online expenses upto 1 lakh rupees will only considered for 5% cashback, while the offline expenses can be done upto 5 lakh to earn 1% cashback.
- Complimentary Domestic Airport Lounge benefit will be discontinued.
Bottom line: Even after the devaluation the SBI Cashback card stands out from lot of other cards in the market including many super-premium cards. You should seriously consider getting one for yourself if you spend more online.
We will write a detailed post on how to maximize the saving using this card soon.
Let us know your thoughts in the comments section.
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